Social Factors in Marketing That Influence Products

by Jeremy Bradley, Demand Media

Many social factors influence consumer buying patterns.

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Small businesses are keenly interested in effective marketing and in the quality of the products and services they sell. But if you're a small-business owner who is truly interested in understanding your customers, you need to become familiar with the various social factors that can influence buying behaviors.

Community Attitudes

When you think of marketing a product to a particular demographic or "target market" you are essentially addressing the attitudes that members of specific communities hold toward spending money on particular products. If you sell high-end furniture, you'll need to understand the community's attitudes about spending large sums of money on home furnishings. By narrowing down who within the community has the means and desire to purchase your product or service, you are doing what marketers called "segmenting the market." Understanding buying attitudes is important in product development and advertising strategies.

Social Standards

Closely related to buying attitudes are social standards. These are the values and norms held by the community you market the product or services to. You can assume that a potential customer is unlikely to buy something she does not identify with or feel she could get use out of. Social, religious, cultural and gender-influenced factors interact here, as social standards vary by race, ethnicity and way of life. If you are able to analyze these features of your potential customers, you'll be in a better position to tailor your marketing strategies.

Interests and Hobbies

Besides buying out of necessity, people often buy products that serve an entertainment value, are interesting to their use of free time or are instrumental in hobbies. If you sell a product that can be considered more of a "want" than a "need," you'll do well to focus on this social factor. Pay close attention to trends in the marketplace. If you find that people in your community are rushing toward buying high-end electronics, you might be able to capitalize on this fad. Fads, though, are typically short-lived, and you'll need more than a one-off purchase to keep your business afloat.

Time and Available Resources

Time and available resources are the final social factors affecting marketing and product development. All of us are restricted by time in a number of ways: by work, family, or social commitments. Having less free time normally means having less time to shop for goods and services. Time is an intangible resource, but money is tangible. The availability -- or lack -- of money affects whether customers purchase from you. The solution is to balance time and money: Look for convenient ways for your potential customers to buy from you (for instance, through the Internet or by catalog) while also keeping your price points reasonable and attractive.

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